RWSIX Fees and Costs — Redwood Systematic Macro Trend, Fund Class I
Data updated: 2026-09-28
The net expense ratio is 1.24%: a 1.00% management fee plus 0.24% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $292K in broker commissions, 0.1467% of average net assets, and portfolio turnover was 134%.
RWSIX Fees and Expenses
Annual operating expenses and sales charges of RWSIX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.24% |
| Gross expense ratio | 1.24% |
| Fee waiver | — |
| Net expense ratio | 1.24% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
RWSIX Costs Over Time
On $10,000 invested in RWSIX, assuming 5% a year before costs, total costs come to $861 over 5 years, cutting the return by 1.46% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.24%) | $130 | $405 | $699 |
| Trading costs (broker commissions) | $15 | $48 | $83 |
| Lost growth on money paid in costs | $0 | $22 | $79 |
| Total costs | $146 | $475 | $861 |
| Value after costs | $10,354 | $11,101 | $11,902 |
| Impact on return, per year | 1.46% | 1.46% | 1.46% |
RWSIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1467%
- Total broker commissions: $292K
- Bought from dealers (principal trades, not a cost): $5.4M
- Portfolio turnover (prospectus): 134%
- Securities lending: none during the year
RWSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE | $286K | 97.95% |
| BTIG LLC | $6K | 2.05% |
RWSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UMB | $5.4M | 100.00% |
Redwood Systematic Macro Trend Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RWSIX | Fund Class I | 1.24% | none |
| RWSNX | Fund Class N | 1.49% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.